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Jan 22, 2013
01/13
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the debt ceiling is set to expire, 16.4 trillion. so we need to raise the nation's borrowing limit in one way or another. the republicans don't like the idea of doing that without having commensurate spending cuts. they have a plan to extended until may. and then if the democrats in the senate have not produced a budget that includes spending cuts, they will set aside the pay of members of congress. so it is a tricky maneuver on their part. their goal is to get senate democrats to pass a budget that includes spending reductions. the senate has not been able to pass a budget for the past four years. democrats will resist the idea of any kind of spending cuts. it's going to be a real face-off between the two party is over the debt limit. tomorrow we will get a good look at that legislation. host: senate democrats have said they will pass. a pass guest: but it may not include spending cuts republicans are looking for. it's not necessarily an agreement. it might seem so on the surface. host: larry in san diego, democratic caller. welcome
the debt ceiling is set to expire, 16.4 trillion. so we need to raise the nation's borrowing limit in one way or another. the republicans don't like the idea of doing that without having commensurate spending cuts. they have a plan to extended until may. and then if the democrats in the senate have not produced a budget that includes spending cuts, they will set aside the pay of members of congress. so it is a tricky maneuver on their part. their goal is to get senate democrats to pass a budget...
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Mar 15, 2013
03/13
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the president didn't have much leverage because he was right up against the debt ceiling and that is why all this -- that is what they accepted the spending cuts and no revenue. one thing he benefited from was the soaring economy. you cannot overstate how much that helps. that brings in all of this tax revenue without having to make major changes to the tax code. that is the soul -- that is something the president hasn't benefited from. host: here is another summary, courtesy of "the new york times," we already talked about sequestration but they pointed out on additional spending cuts, "under the democratic plan, there are none. under the republican plan, 1.8 trillion dollars in repealing the health care law. the democrats proposing $100 billion in new stimulus spending. republicans propose no spending. there is this on social security -- the democrats, no changes. the republicans requiring the president and congress to submit plans increasing the trust fund. guest: security has enough money tocontinue full benefits 2036 with 10,000 people turning 65 everyday and the number of peopl
the president didn't have much leverage because he was right up against the debt ceiling and that is why all this -- that is what they accepted the spending cuts and no revenue. one thing he benefited from was the soaring economy. you cannot overstate how much that helps. that brings in all of this tax revenue without having to make major changes to the tax code. that is the soul -- that is something the president hasn't benefited from. host: here is another summary, courtesy of "the new...
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Feb 4, 2013
02/13
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if republicans had gone into this issue and said they would not raise the debt ceiling unless they got cuts, there would have lost that the raid at the end. big loss that debate. john boehner and paul rand did a great job together. you cannot govern from that office, you but you have to be very careful about high-profile last-minute negotiations. i've worked in the white house and three administrations. the president has a tremendous institutional advantage in these kinds of fights. what republicans have to do is avoid these fights, the straps that they are laying. provide an alternative through passing legislation, just to show this is how they would govern if they had the powers of the presidency and the senate. and be careful. there are some rough edges. host: some are not strategy as far as moving the debt ceiling ahead. guest: if they had gone ahead with it, it would have been politically cataclysmic. it was the worst percival -- worst possible ground to make their point. president obama 1. i think it's absolutely crucial for the future of the country that you cannot govern from t
if republicans had gone into this issue and said they would not raise the debt ceiling unless they got cuts, there would have lost that the raid at the end. big loss that debate. john boehner and paul rand did a great job together. you cannot govern from that office, you but you have to be very careful about high-profile last-minute negotiations. i've worked in the white house and three administrations. the president has a tremendous institutional advantage in these kinds of fights. what...
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Jan 15, 2013
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the debt ceiling is a joke, because they say cut spending. i want to ask everybody, cut spending means cutting food stamps, cutting social security, medicaid, medicare. so you want to hurt the poor? i'm understand you want to stop spending, but and you want the poor to what? how about because the senators and congressman, cut their pay until they get this done right? how about they don't get paid at all? my wife is on disability. she has kidney failure. we live in a right to work state in las vegas and are barely surviving. if the government shuts down, if you want to hurt people, you would hurt so many people. if you want to shutting it down, that means no more food expenses, no more air traffic control. how about our service members? don't pay the service members? i salute every man that puts on his uniform. for them to say they should not be getting paid -- we have to take care of our debts first. host: let me jump in. you sound like you listen closely to the news conference yesterday. caller: i'm politics junkie c-span is my favorite. hos
the debt ceiling is a joke, because they say cut spending. i want to ask everybody, cut spending means cutting food stamps, cutting social security, medicaid, medicare. so you want to hurt the poor? i'm understand you want to stop spending, but and you want the poor to what? how about because the senators and congressman, cut their pay until they get this done right? how about they don't get paid at all? my wife is on disability. she has kidney failure. we live in a right to work state in las...
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Jan 9, 2013
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in august, they raise the debt ceiling, and what did we get in return? finding a way to cut spending. how much did they cut? 0. we do not target anyone any single vote could we look for a pattern of behavior. we look at the scores as a compilation of their service. this is one vote. host: there was this headline from "mihill -- the hill" -- guest: we did not write that headline. we did score the sandy road, and we think people should get the relief they deserve, but we have disasters every year, and every time that we have them, it is the same response, let's pass a bloated disaster relief bill that is not paid for. my only -- our belief is to put money aside that is needed, and let's pay for it. if we have to help those in need, there are probably other places we do not need to spend the money. just making it an additive and putting ourselves in that is a disaster. host: let me show you what governor chris christie had to say about this in his state of the state address yesterday. [video clip] >> we as the state had waited 72 days, and one thing i hope
in august, they raise the debt ceiling, and what did we get in return? finding a way to cut spending. how much did they cut? 0. we do not target anyone any single vote could we look for a pattern of behavior. we look at the scores as a compilation of their service. this is one vote. host: there was this headline from "mihill -- the hill" -- guest: we did not write that headline. we did score the sandy road, and we think people should get the relief they deserve, but we have disasters...
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Mar 10, 2013
03/13
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people are going to start hearing more about the debt ceiling. it is probably going to kick in in july and august. host: 1 deadline we are watching is march 22. that is the continuing resolution. it is only in a couple weeks. guest: think everyone is tired of fiscal fight here in washington so there seems to be sentiment to move that forward to not try to completely undo the sequester. part of that may be modifying it, paying in particular for the military. having said that, sometimes these things have a way of becoming showdown's at the last minute. it does not look like we are heading in that direction. host: every time they go in there and tinker with the sequestered they get more flexibility. the greater the likely this questor stays in place. that is less reason to say these cuts are painful. if the government has the ability to place these cuts with some flexibility, the harder it will be for members of congress to say they are too painful. host: a caller is calling on the democrats online. go-ahead. caller: what i want to know is why these
people are going to start hearing more about the debt ceiling. it is probably going to kick in in july and august. host: 1 deadline we are watching is march 22. that is the continuing resolution. it is only in a couple weeks. guest: think everyone is tired of fiscal fight here in washington so there seems to be sentiment to move that forward to not try to completely undo the sequester. part of that may be modifying it, paying in particular for the military. having said that, sometimes these...
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Jan 7, 2013
01/13
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should we cut spending to raise the debt ceiling? it sounds logical. the debt ceiling is about spending that has already occurred. stop buying stuff so you do not have teacher bills. we have to pay the bills that have been incurred. if you want to say cut spending for what we do next, fine. you do not tie it the debt ceiling. >> should spending be tied to an increase on the debt limit? a tweet -- tom, arlington, texas, independent. caller: it is not so much what the government buys. it is how much the government pays for what they buys. . one common machine gun is $37 apiece. another is $47 apiece. i've thousand dollars apiece for assault rifles. maintenance cost of airplanes. who will pay that much money? host: how would you change things? caller: gets new vendors. more companies can manufacture stuff. nobody can build submarines for us other than general dynamics. they are building seven new destroyers at $7 billion apiece. host: what do you think about tying it to the limit in the debt limit increase? should we not increase the debt limit unless spe
should we cut spending to raise the debt ceiling? it sounds logical. the debt ceiling is about spending that has already occurred. stop buying stuff so you do not have teacher bills. we have to pay the bills that have been incurred. if you want to say cut spending for what we do next, fine. you do not tie it the debt ceiling. >> should spending be tied to an increase on the debt limit? a tweet -- tom, arlington, texas, independent. caller: it is not so much what the government buys. it is...
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Jan 3, 2013
01/13
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the sequestration battle in a few months and then there's the debt ceiling. will the president and republicans in congress agree to raise the debt ceiling and exchanged for some spending cuts. we saw that in 2011. the obama administration says the not playing that game anymore and they have a plan to raise the debt ceiling and go- around congress. sounds like they're not revealing the details, but that will be the big fight. a debt ceiling fight in a couple months. guest: we are live from the rotunda on capitol hill. opening day of the 113 congress. we want to get your questions and comments about the agenda of the new members face. let's begin with michael in new york, an independent caller. go ahead. caller: good morning. you have a great show. i am a professor in an m.b.a. program. i have 38 students from 400 countries. i teach accounting as well. i see very few accountants in the house of representatives. an observation, you are concentrating on cutting the medical care in the united states. the united states is listed 49 th in life expectancy. so that is
the sequestration battle in a few months and then there's the debt ceiling. will the president and republicans in congress agree to raise the debt ceiling and exchanged for some spending cuts. we saw that in 2011. the obama administration says the not playing that game anymore and they have a plan to raise the debt ceiling and go- around congress. sounds like they're not revealing the details, but that will be the big fight. a debt ceiling fight in a couple months. guest: we are live from the...
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Aug 31, 2013
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the debt ceiling. inhner wants $600 billion spending cuts over 10 years. that is doable, for sure, but it is not the stuff the white house is going to agree to easily. and the white house wants tax increases to be part of a deal. host: we have artie make cuts in spending because of sequestration. guest: sure, we have artie made lots of cuts in spending -- we have already done lots of cuts in spending. within tax increases a part of the fiscal cliff dear. they are making progress, a lot of people think we have a ways to go. we're cutting the deficit to quickly because they believe we need to get the economy going, invest in if the structure. republican say we cannot get the deficit down fast enough. sort of have a different philosophical role on this. what about the fight that led to the idea that we have sequestration right now? guest: into the of and 11, we had a big showdown between the white house and republicans on the debt ceiling, and it led to this budget control act that put in place the seques
the debt ceiling. inhner wants $600 billion spending cuts over 10 years. that is doable, for sure, but it is not the stuff the white house is going to agree to easily. and the white house wants tax increases to be part of a deal. host: we have artie make cuts in spending because of sequestration. guest: sure, we have artie made lots of cuts in spending -- we have already done lots of cuts in spending. within tax increases a part of the fiscal cliff dear. they are making progress, a lot of...
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Sep 15, 2013
09/13
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ceiling for you cannot about the debt ceiling unless you talk about cutting. america continues to spend more than it brings in. talk about a debt ceiling without talking about cuts -- america has this debt. there is no fiscal responsibility. there is no fiscal discipline and we keep having the same conversation and the bureaucracy continues to grow out of control. guest: it does not stop. guest: america is bankrupt. guest: america is not bankrupt. we are and i pretty sound financial footing. we just don't want the congress to undermine the progress that anothermade and invite downgrading in the u.s. rating in a fight over the debt ceiling. allowbt sailing is not to congress to spend more money, it is to pay the bills for the deaths that have already been racked up. for the president to refuse to negotiate which is what he is doing, and speaker john boehner is struggling because he has 42 tea party members of his caucus that would rather take down the whole government then make a deal. he will have to work with democrats to some sort of resolution. host: miami,
ceiling for you cannot about the debt ceiling unless you talk about cutting. america continues to spend more than it brings in. talk about a debt ceiling without talking about cuts -- america has this debt. there is no fiscal responsibility. there is no fiscal discipline and we keep having the same conversation and the bureaucracy continues to grow out of control. guest: it does not stop. guest: america is bankrupt. guest: america is not bankrupt. we are and i pretty sound financial footing. we...
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Oct 13, 2013
10/13
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i don't have the luxury of reason mike debt ceiling so we have to cut back on our spending. why no talk about cutting back on spending he e we have a president who said it was immoral on principle to raise the debt ceiling. that is after $6 trillion of added debt. that is all he talks about. i just do not understand why no cutting back on spending. pages one to continue to spend. like the gentleman from california said, we are heading to a major test the something is not done. front page of "cq weekly" talks about the debt deadline -- just to read you a little bit of that article in this week's "cq weekly" -- anthony is on the republican line. i am wondering if mandatory spending is the same as the law that was passed in years ago which any federal agency that provides funds has to spend their entire funds for the year to receive the 10% the following year. is that what the republicans in congress are trying to cut back on so this debt is not floated out of the water, which i feel that is the case. why isn't it talked about? i think that is one of the main problems. doing is
i don't have the luxury of reason mike debt ceiling so we have to cut back on our spending. why no talk about cutting back on spending he e we have a president who said it was immoral on principle to raise the debt ceiling. that is after $6 trillion of added debt. that is all he talks about. i just do not understand why no cutting back on spending. pages one to continue to spend. like the gentleman from california said, we are heading to a major test the something is not done. front page of...
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Jul 26, 2013
07/13
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it is part of a deal that happened last summer to avoid the debt ceiling seen. onis an across the board government spending. it happened with a meat cleaver, not a scalper. it is across-the-board spending cuts. that is the wrong thing to be doing right now. the evidence is overwhelming that us dare to come in which is deficit-reduction, this kind of thing that sequestration is a hard of, during a slump has big negative effects can you kind of -- you pull that kind of spending in the economy when no one else's spending and that costs jobs. so it is a big drag on the economy. we haven't seen the full .ffects really kicked in yet but we can see the more strongly in the next couple of months. guest: i agree it was a very blunt instrument. more importantly, it was targeted, if we are concerned about future debt, the wrong part of the budget, even though i think that everything ought to be on the table, particularly defense spending. but our future dead comes on the other side of the budget and remains untouched and puts programs on on a paper like asial security and
it is part of a deal that happened last summer to avoid the debt ceiling seen. onis an across the board government spending. it happened with a meat cleaver, not a scalper. it is across-the-board spending cuts. that is the wrong thing to be doing right now. the evidence is overwhelming that us dare to come in which is deficit-reduction, this kind of thing that sequestration is a hard of, during a slump has big negative effects can you kind of -- you pull that kind of spending in the economy...
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Jan 11, 2013
01/13
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my getting ready to rip up voter's card if the debt ceiling is raised without comparable spending cuts. the physical cliff was 41-1. i will not vote again in this country if it comes up to that. guest: do not give up on voting. is one thing -- that is one thing i beg you n
my getting ready to rip up voter's card if the debt ceiling is raised without comparable spending cuts. the physical cliff was 41-1. i will not vote again in this country if it comes up to that. guest: do not give up on voting. is one thing -- that is one thing i beg you n
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Mar 22, 2013
03/13
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debt ceiling. that is an issue that is on the horizon. they have to figure out how do we do this. host: thanks for talking with us. here is the headline in "usa today" -- host: we will be talking about the gun control later on this morning. our question for you is whether or not you are feeling the impact of sequestration. we have a poll on our facebook page. also, share your comments. here is a story from "the hill" -- john is our next call in florida, republican. the railroadked for over 30 years. i got seniority buildup. i used to get laid off every year. i am so sick of these federal people not ever -- crying about they will lose 22 days a year. this is ridiculous. they can't fire them. they can't lay them off. all these other companies, when their business goes down, four or five are laid off this winter. these people have got to take their turn on being laid off. the fact is, i don't know how we can lay them off anyway. they get more money in the off theirking 2.5% budget. they should have pl
debt ceiling. that is an issue that is on the horizon. they have to figure out how do we do this. host: thanks for talking with us. here is the headline in "usa today" -- host: we will be talking about the gun control later on this morning. our question for you is whether or not you are feeling the impact of sequestration. we have a poll on our facebook page. also, share your comments. here is a story from "the hill" -- john is our next call in florida, republican. the...
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Oct 2, 2013
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this debt ceiling is nothing but a bunch of garbage. we are not going to default. the interest on the debt will be paid. there is money coming in. you have to cut your spending. we will get rid of the pet projects. why don't you go on the health care? you and your staff. why don't you do that? host: thank you so much. guest: i am sorry about your son. there are a lot of americans who are still suffering economically because of a recession that grew out of the nightmare that was the financial meltdown in the real estate market and wall street and we are still feeling profound effects on that. let me clear one thing up. people need to research this. far from having democrats oppose the notion that we go into the exchanges, there is one group of people today who are required by law to go into the exchanges. members of congress and their staff are required to give up their government health care exchanges. into the the loudmouths on the right wing are saying we exempted ourselves. the opposite is true. today i payening is about $500 a month from my health insurance tod
this debt ceiling is nothing but a bunch of garbage. we are not going to default. the interest on the debt will be paid. there is money coming in. you have to cut your spending. we will get rid of the pet projects. why don't you go on the health care? you and your staff. why don't you do that? host: thank you so much. guest: i am sorry about your son. there are a lot of americans who are still suffering economically because of a recession that grew out of the nightmare that was the financial...
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Jan 4, 2013
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we're running up against the debt ceiling. it could be even nastier fight we just saw. democrats say they won't deal on debt limit what they did in the summer of 2011. republicans say, no this is what when we have to cut our spending and get our finances in order and how they resolve this in the next two months will be a very interesting dynamic to watch. in terms of actual tone and the nature of the congress, you've got a lot of democrats will say, you've gotten rid some of the tea party fire brand republicans as they call them and hopefully that would make for more cooperative environment. there are a lot of new members of the congress are elected, they really ran on being cooperative, bipartisan, being problem solvers. it's so divided congress, we've got a democratic senate and we've got a republican house who really don't see eye on eye on much of anything. i'm not convinced at this point that very partisan nature of congress that we saw for the next two years will be too different now. host: let's look at the members and how they voted and the key that we're lookin
we're running up against the debt ceiling. it could be even nastier fight we just saw. democrats say they won't deal on debt limit what they did in the summer of 2011. republicans say, no this is what when we have to cut our spending and get our finances in order and how they resolve this in the next two months will be a very interesting dynamic to watch. in terms of actual tone and the nature of the congress, you've got a lot of democrats will say, you've gotten rid some of the tea party fire...
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Sep 5, 2013
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speaker john -- boehner and others believe that if you raise the debt ceiling, you have to cut the source of the debt, which is overspending. that is a point of view that i generally agree with. they might want to do it in a compromise, where there was some entitlement reform involved. they do not want to do it with any tax increase. they have made that very clear. we have already had a double whammy tax hike in 2013. the top end of the bush tax cuts were raised, and then the obamacare hikes are kicking in. it is going to be tough. i do not think the president will get his wish, which is a clean debt ceiling. over.days are there will be some spending negotiations that could include the very positive entitlement reform. that might be a good thing. a toughing to be battle. i think that people have to be alert -- this is a market issue. you asked about financial markets. nobody in the financial markets once a debt default, that is a default, thatt would be very damaging. everybody is worried that the timeframe is so short, the continuing resolution has to be done by october 1. according to j
speaker john -- boehner and others believe that if you raise the debt ceiling, you have to cut the source of the debt, which is overspending. that is a point of view that i generally agree with. they might want to do it in a compromise, where there was some entitlement reform involved. they do not want to do it with any tax increase. they have made that very clear. we have already had a double whammy tax hike in 2013. the top end of the bush tax cuts were raised, and then the obamacare hikes...
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Sep 21, 2013
09/13
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think about this, they are not talking now about spending cuts. they are not talking about entitlement reforms. we're not talking about any of that, now they're talking about something that has nothing to do with the budget. they are actually willing to plunge america into if we can't defund the affordable care act. .et's put this in perspective the affordable care act has been in the law for three and a half years. it passed both houses of congress, the supreme court, it was an issue in last his election. the guy who is running against me said he was going to repeal it, we won. the washington post this morning has a list of some of the things that would remain intact. according to the office of employees and budget, who provide for national security including the conduct of national security. more of that in "the washington post" this morning. next up, this is james from phoenix, arizona. he says it is not worth it. shutting down the government over something like this is stupid. everybody needs healthcare. 60% of the people are going bankrupt ov
think about this, they are not talking now about spending cuts. they are not talking about entitlement reforms. we're not talking about any of that, now they're talking about something that has nothing to do with the budget. they are actually willing to plunge america into if we can't defund the affordable care act. .et's put this in perspective the affordable care act has been in the law for three and a half years. it passed both houses of congress, the supreme court, it was an issue in last...
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Jan 24, 2013
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we want to remind you, in case you missed it, the house passed a bill yesterday suspending the debt ceiling. here is a baltimore sun piece. also on page 6 of "the baltimore sun" is a picture of john boehner and says -- they show the speaker in a photo saying it would cut the deficit twice as fast as other plants. the speaker is also out there making a speech to the society. the headline basically says this -- his focus is basically to annihilate the republican party. here's a look at you to but. [video clip] >> from what we heard yesterday, it is pretty clear to me -- it should be clear to all you he knows he cannot do any of that as long as the house is controlled by republicans. we are expecting over the next 22 months to be the focus of this administration as they attempt to annihilate the republican party. i do believe that is their goal. and just to shut us into the dustbin of history. host: these were remarks to the ripon society. they go on to write to that the transcripts or accurate, and noted that the speaker regularly attends the event. perhaps we will hear more about this in the
we want to remind you, in case you missed it, the house passed a bill yesterday suspending the debt ceiling. here is a baltimore sun piece. also on page 6 of "the baltimore sun" is a picture of john boehner and says -- they show the speaker in a photo saying it would cut the deficit twice as fast as other plants. the speaker is also out there making a speech to the society. the headline basically says this -- his focus is basically to annihilate the republican party. here's a look at...
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Sep 25, 2013
09/13
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should not go above the debt ceiling unless congress acts. it doesn't mean taxes will go up or spending will be cut. what it is is a reminder that we actually have to do things like tax reform, spending reform, entitlement reform so we can get the debt under control. but there is not an automatic trigger between debt ceiling going up and tax policy. host: joy officer comment on twitter. she says simply -- we really need to make a distinctive between wants and needs. from oakland, maryland, on our line for republicans. caller: congressman delaney. i am a constituent. a quick question -- but i wanted to run one thing by you first. are you acquainted with the fact that the beltway bullies changed the wealth formula several years ago in determining how much money school systems get from the state. the county with the second the was per capita income is considered the fifth wealthiest county in the entire state, that is higher than pg county. of theomes are half montgomery county incomes that you represent also. this has caused -- cost our school
should not go above the debt ceiling unless congress acts. it doesn't mean taxes will go up or spending will be cut. what it is is a reminder that we actually have to do things like tax reform, spending reform, entitlement reform so we can get the debt under control. but there is not an automatic trigger between debt ceiling going up and tax policy. host: joy officer comment on twitter. she says simply -- we really need to make a distinctive between wants and needs. from oakland, maryland, on...
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Aug 13, 2013
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the republican said if you want a debt ceiling increase of a trillion you have to reduce spending by a trillion in the same piece of legislation. we have $2.5 trillion spending cuts. the president did this because he thought the republicans would never allow the restraint on pentagon spending. toublicans are committed costg a reasonably priced effective defense as well as every other part of the government. president just had some cartoon image of what republicans are for. they always want more for the military. strong military, keep the canadians on that side of the border. you're not going to waste any money. that is nonsense. host: senator graham, mccain, is it a mistake for them to be negotiating with the president because of their concerns over defense spending? always talk to people. talk to the president. wants taxent says he increases so he can spend more money. he has no interest on spending more money on national defense. he wants to spend less money. he wants to raise taxes to avoid spending restraint. he wants to rate sequester to spend more money and raise taxes to spend
the republican said if you want a debt ceiling increase of a trillion you have to reduce spending by a trillion in the same piece of legislation. we have $2.5 trillion spending cuts. the president did this because he thought the republicans would never allow the restraint on pentagon spending. toublicans are committed costg a reasonably priced effective defense as well as every other part of the government. president just had some cartoon image of what republicans are for. they always want more...
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Oct 10, 2013
10/13
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so i'm concerned that raising our debt ceiling continually is only going to get us into more trouble. but i have a lot of other ways of thinking. i'm listening to all these people argue. the democrats are just saying, open the government, just open the government, people are suffering. well, sometimes we have to suffer until we can get our ourselves back online, meaning we have to do without. i'm going to feel this. and myself by november 1 if it's not up, but i'm willing to go that route if we can get back on track. so my comments, and i have a question, we have a lot of fog, we see it every day. we as citizens can do nothing out it, and there's a lot of fraud, food stamp fraud, medicare fraud. we need to concentrate on oversight committees and find the millions and billions of dollars that we can save from the people who are actually stealing from the government in plain sight. host: congressman? gope sounds like comfort, texas, has some fairly rational thinkers. look, the government slowdown is not wonderful. it's uncomfortable. have been just stunned at how it's been actually cove
so i'm concerned that raising our debt ceiling continually is only going to get us into more trouble. but i have a lot of other ways of thinking. i'm listening to all these people argue. the democrats are just saying, open the government, just open the government, people are suffering. well, sometimes we have to suffer until we can get our ourselves back online, meaning we have to do without. i'm going to feel this. and myself by november 1 if it's not up, but i'm willing to go that route if we...
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Mar 18, 2013
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republican said, ok, we will raise the debt ceiling for the country does not default, but only if you agree for a dollar for dollar reduction in spending over the next decade. and so, yet $2.50 trillion of spending restraint -- not real cuts but spending less than obama had hoped. in washington that is called a cut. if you wanted 10 of something and you only got eight of something, you say i got cut two. if you actually walk away with eight. so, that was a $2.50 trillion spending reduction over the next decade. it has not happened yet. we have several problems facing us. the trillion dollars in the obamacare tax increases that hit this decade, that begin to hit now. oddly enough, the president and the democrats in the house and senate decided to put the tax increases, the bulk of them, after the 2012 elections. so, everybody voted and now the tax increases hit. it is not helpful for the economy and i think it is going to be unpleasant for voters. from ron is up next watertown, south dakota. democrats' line. caller: thank you for taking my call. i have listened to you for a long time a
republican said, ok, we will raise the debt ceiling for the country does not default, but only if you agree for a dollar for dollar reduction in spending over the next decade. and so, yet $2.50 trillion of spending restraint -- not real cuts but spending less than obama had hoped. in washington that is called a cut. if you wanted 10 of something and you only got eight of something, you say i got cut two. if you actually walk away with eight. so, that was a $2.50 trillion spending reduction over...
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Oct 11, 2013
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yearly budget, it would seem to -- it would seem there are two choices, raise the debt ceiling or cut spending. i think there is a nether issue of -- issue at play. there are thousands of nonprofits, environmental, political, educational, religious groups, offshore companies, none of which contribute to taxes sustaining our economy. to change. who pays taxes and who doesn't pay taxes? we need to broaden the base of taxpayers. why should taxpayers get an irs deduction for charitable contribution? i would like to know how other industrialized countries handle these issues of taxation. in other news this morning, front page of "the detroit free press," -- another headline, courtesy of the museum -- in the virginia senate race color hear from "the washington times -- senate race, here in "the washington times" -- on the other side of the newspaper is this -- on the bp trial, happening in new orleans, front page of "the houston chronicle" -- this is the case happening in texas. there is another trial happening in that oil leak case in new orleans. this from the companies and the markets se
yearly budget, it would seem to -- it would seem there are two choices, raise the debt ceiling or cut spending. i think there is a nether issue of -- issue at play. there are thousands of nonprofits, environmental, political, educational, religious groups, offshore companies, none of which contribute to taxes sustaining our economy. to change. who pays taxes and who doesn't pay taxes? we need to broaden the base of taxpayers. why should taxpayers get an irs deduction for charitable...
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Sep 14, 2013
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>> it would occurred to me that in the debt ceiling negotiations that would be a place to talk about it, how could you create that balance to get those dollars back? house has addressed this in the short term. the defense appropriations bill that many of those dollars back in, much of them and to readiness accounts. i really pushed to say that the dollars have to go back to those accounts. the key is it only addresses it for one year. the sequester automatically occurs the subsequent year. what we have to do to uncertainty in the place for the military's is to say here is our solution. i am looking for that and the debt ceiling negotiations. >> "washington journal" continues. >> joining us is michael hurley with the bipartisan policy center. he is consultant to their homeland security project. a newroject put out report, jihadist terrorism, the threat assessment. it looks at the top of terrorism. welcome. tell us first and foremost about the bipartisan center. guest: this is an organization found by four senate majority leaders. it is dedicated to coming up with practical policy solu
>> it would occurred to me that in the debt ceiling negotiations that would be a place to talk about it, how could you create that balance to get those dollars back? house has addressed this in the short term. the defense appropriations bill that many of those dollars back in, much of them and to readiness accounts. i really pushed to say that the dollars have to go back to those accounts. the key is it only addresses it for one year. the sequester automatically occurs the subsequent...
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Oct 5, 2013
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ceiling in order to put us in a bad position. democrats cannot vote to cut entitlements if there are not tax increases attached to them. i hope someone somewhere wakes up to this reality before we default and stop insisting that in the next 12 days democrats are going to agree to cut entitlements with no revenue and do some complicated tax reform bill that cuts taxes even further. because that reality does not sit in, we are in for several weeks of greater calamenty. with that, i support the resolution and i reserve. the speaker pro tempore: the gentleman reserves the balance of his time. the gentleman from south carolina is recognized. mr. wilson: mr. smith -- excuse me, mr. speaker, i commend mr. smith. he has reached across to try to work together and by referencing the shutdown in 1995, there is a difference and it begins at the top. sadly, the president of the united states two weeks ago last night called to announce he was not going to negotiate. in the 1995 shutdown, there was communication between the president and the sp
ceiling in order to put us in a bad position. democrats cannot vote to cut entitlements if there are not tax increases attached to them. i hope someone somewhere wakes up to this reality before we default and stop insisting that in the next 12 days democrats are going to agree to cut entitlements with no revenue and do some complicated tax reform bill that cuts taxes even further. because that reality does not sit in, we are in for several weeks of greater calamenty. with that, i support the...
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Jan 14, 2013
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will vote on a bill that will increase the debt ceiling to probably $17.5 trillion. there is likely to be little spending cuts and little tax increases. which bans all we've done is put off the day of reckoning. host: is there time for that bill to pass? guest: i am a senior staff -- they know what is going on. members -- we had 102 new members in the house in 2010. we have another 84 in the 2012 elections. that means almost half of the united states house is new to this problem. there has to be a lot of educating going on before there is a sense of what needs to be done. they will not like what they need to do. will there be a grand bargain and cutting spending or will they not? we have been working on this for three years now. i feel they will punt and disregard we're spending so much on entitlements. host: we are speaking with steve bell from the bipartisan policy center. he worked under pete domenici and staff director for the budget center when pete domenici was chair of that committee. justin from california, good morning. caller: good morning. i heard that we
will vote on a bill that will increase the debt ceiling to probably $17.5 trillion. there is likely to be little spending cuts and little tax increases. which bans all we've done is put off the day of reckoning. host: is there time for that bill to pass? guest: i am a senior staff -- they know what is going on. members -- we had 102 new members in the house in 2010. we have another 84 in the 2012 elections. that means almost half of the united states house is new to this problem. there has to...
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Sep 30, 2013
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said,president obama has talking about the rays of the debt ceiling, that this is money that congress has already sent out the door. explain that. guest: the caller makes good points, that there are ways to cut the federal budget. ae issue is that there is process for doing that. there is an appropriations process. a bill is raised in the house for spending and then goes to committee. the house passes it. goes to senate. senate disagree and comes up with a slightly different version. they go to conference. there is a vote. it has to pass in both houses. the president can sign or veto it. this is civics 101. but that is not how things are working these days. what is happening now is the bills getting approved by both houses. it is getting signed. after the money is already approved, people are saying, oh, wait, wait, we did not want to spend that money after all, so we're just not going to pay for it. and a net show, that is the problem with the debt ceiling. you cannot decide after you have already agreed to pay something -- after you have already spend the money, in fact, and a bill
said,president obama has talking about the rays of the debt ceiling, that this is money that congress has already sent out the door. explain that. guest: the caller makes good points, that there are ways to cut the federal budget. ae issue is that there is process for doing that. there is an appropriations process. a bill is raised in the house for spending and then goes to committee. the house passes it. goes to senate. senate disagree and comes up with a slightly different version. they go to...
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Jan 13, 2013
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a formula he came up with last year during the debt ceiling debate. some republicans have said that the treasury department could prioritize payment and minimize the impact of default. charles joins us from chicago, independent line. caller: good morning. a lot of studies of different financial instruments and things. a recent study i did spans from 1942-2012. the best used to judge inflation is simply an automobile. they cost $800 in 1940. a similar automobile today could you bought for $22,000. that is 2750% inflation. after every war, we have gigantic inflation. unless we are going to take extreme austerity to put us into a massive depression, we inflate out of it, and we also live quite well. to give you an example, if i got an ice cream cone in 1940, it would cost one dollar 46 cents today. all things are a line. all we have to do after wars is inflate out of it, pay off the debt with devalued currency, and that goes for all global currencies. we should not be having a debate about the debt ceiling. i want to make one other remark. what really st
a formula he came up with last year during the debt ceiling debate. some republicans have said that the treasury department could prioritize payment and minimize the impact of default. charles joins us from chicago, independent line. caller: good morning. a lot of studies of different financial instruments and things. a recent study i did spans from 1942-2012. the best used to judge inflation is simply an automobile. they cost $800 in 1940. a similar automobile today could you bought for...
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Mar 21, 2013
03/13
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they say if you increase the debt ceiling coming up to cut spending by an incredible amount. over 10 years. white 10 years? arbitrary. -- why over 10 years? arbitrary. 2.4 congress voted for $ trillion in cuts. 2 trillion -- the sequester makes no sense at all. from our point of view, we do not have a that crisis or deficit crisis. we have a jobs crisis. we have reduced the deficit. the only intelligent way to measure deficit is as a percent of the economy. . percent of gdp that is for a simple reason. if you owe $10,000 on your credit card, is that urban some or not? it depends. if your salary is $30,000, 10 thousand dollars is a lot of money. if you are $3 million a year, $10,000 is not a lot of money. we have reduced the debt as a from 10.1%.f gdp it was 10% in 2009. it is now 5.3%. we have cut it in half. the fastest reduction in the deficit since the immobilization after world war ii, it is an inhibiting growth and the economy. i will vote against the sequester. i think we have done what we need to do with debt. we have the deficit down to a managing level. it will conti
they say if you increase the debt ceiling coming up to cut spending by an incredible amount. over 10 years. white 10 years? arbitrary. -- why over 10 years? arbitrary. 2.4 congress voted for $ trillion in cuts. 2 trillion -- the sequester makes no sense at all. from our point of view, we do not have a that crisis or deficit crisis. we have a jobs crisis. we have reduced the deficit. the only intelligent way to measure deficit is as a percent of the economy. . percent of gdp that is for a simple...
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Jan 1, 2013
01/13
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they will have to deal with the debt ceiling, raising that, and also these automatic spending cuts. if what ever the senate passed last night is approved by the house, that means they're back at this in a couple of months. what do you think about the prospects of a president obama being able to hold his ground that? caller: i do not think he will. if he gave up four hundred $50,000 this round, what else will he give up? you are going to have to put social security and medicare on the table. host: you differ from other democrats, who say, do not touch social security. caller: i look at it like this -- everybody has to have shared sacrifice. it has to be shared or else it will not work. host: joe in missouri, an independent color. caller: i have two questions -- is this supposed to last for five years? this bill? host: there are some provisions that last for five years. the tax credits as part of the stimulus -- caller: why would they do it for five years, because we got stuck with the ten-year deal with bush? if something comes up, he will change it. -- will they change it? host: tha
they will have to deal with the debt ceiling, raising that, and also these automatic spending cuts. if what ever the senate passed last night is approved by the house, that means they're back at this in a couple of months. what do you think about the prospects of a president obama being able to hold his ground that? caller: i do not think he will. if he gave up four hundred $50,000 this round, what else will he give up? you are going to have to put social security and medicare on the table....
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Oct 4, 2013
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are spending cuts or reforms of equal or greater magnitude to be amount the debt ceiling is raised. rule. are under this obama is trying to invent a standard here that obamacare has nothing to do with the budget. as the caller notes, obviously it is part of the budget and a sense that the government is spending money on the health- care law. but obama is trying to distinguish between the purpose of this bill and a law that passed a long time ago and get people to say this is unfair, this is not right. i think you really have to come down to that there is no real objective standard to what should happen here. there is just a subjective perspective on what you want to happen, and politicians are always trying to come up with ways to defend that. host: bradenton, florida. citizen. am a senior looking back at history, i think of the republican party had their way we would not have medicare or social purity given the fights -- social security given the fights they put up on those things. i think the problem here is a lack of understanding of the affordable care act. i had written a lette
are spending cuts or reforms of equal or greater magnitude to be amount the debt ceiling is raised. rule. are under this obama is trying to invent a standard here that obamacare has nothing to do with the budget. as the caller notes, obviously it is part of the budget and a sense that the government is spending money on the health- care law. but obama is trying to distinguish between the purpose of this bill and a law that passed a long time ago and get people to say this is unfair, this is not...
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Jan 2, 2013
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we have not cut spending one dollar since we increased the debt ceiling deal in august of 2011. here we are again getting ready to have the same debate about raising the debt ceiling again. we cannot cut spending that was one of the frustrating parts. we have to acknowledge we can't cut spending. we're so afraid of these cuts -- how much is it by the way? it's 110 110 -- $110 billion out of a budget that's $3,800,000,000,000. we were trying to cut $110 billion out of it. $101 out of $3800. if you can't do that, what are your chances of balancing the budget. disappointing outcome. host: republican on line. caller: i got a question to representative there. how much money did they make a year and can they live on less than a thousand dollars a month? like my wife and i are doing on handicap and disable? this budget plan could have been passed last year and wait until this time to get over the cliff where nobody can do nothing and sit back and worry about what's going on. can you, yourself, live on thousand dollars a month and pay your utilities, food and keep your family can clothe
we have not cut spending one dollar since we increased the debt ceiling deal in august of 2011. here we are again getting ready to have the same debate about raising the debt ceiling again. we cannot cut spending that was one of the frustrating parts. we have to acknowledge we can't cut spending. we're so afraid of these cuts -- how much is it by the way? it's 110 110 -- $110 billion out of a budget that's $3,800,000,000,000. we were trying to cut $110 billion out of it. $101 out of $3800. if...
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Feb 27, 2013
02/13
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as we bumped up in august of 2011 to our debt ceiling, we had to vote to increase our credit card limit, basically. to do that, we had a bill called the budget control act. six democrats and republicans were to get together and avoid these so-called sequester cuts. let me put sequester in english -- it is basically automatic cuts that occurred. as we came to 18 months, i have been saying these are real cuts. no, you're not cutting any thing you're not cutting anything. these are real cuts, both the military and his cautionary spending. you cannot balance a budget by simply cutting discretionary spending. if it all went away, you would still have a budget deficit. so this friday we have across- the-board cuts scheduled to go in. the house last year passed a bill, two different bills, that would avoid the sequester. they would come from some other place. the senate has not acted on that. we are waiting for the senate to do something. what is the effect of it? when they give you an example i can understand. if i am a family of four and i have a $60,000 a year income but am spending $100,00
as we bumped up in august of 2011 to our debt ceiling, we had to vote to increase our credit card limit, basically. to do that, we had a bill called the budget control act. six democrats and republicans were to get together and avoid these so-called sequester cuts. let me put sequester in english -- it is basically automatic cuts that occurred. as we came to 18 months, i have been saying these are real cuts. no, you're not cutting any thing you're not cutting anything. these are real cuts, both...
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Sep 27, 2013
09/13
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the problem is the debt ceiling would prevent the government from issuing any more debt to finance this deficit. this means that the government would have to cut more spending or raise more taxes to bring the budget back into balance again. that could lead to a downward deflationary spiral with no bottom in spite. at deflationary environment like offer would be u.s. treasury funds. the u.s. long-term interest ,ates spiked slightly lower just the opposite of what everyone thought was going to happen. we appreciate your comments. on facebook, quite a lively conversation -- this conversation will continue all day so you can go onto facebook all day long and post your comments as well. the president gave a speech yesterday in the suburbs in largo, maryland. he was talking about health care. here is a little bit of what he had to say. [video clip] >> the closer we have gotten to the more irresponsible folks who are opposed to this bill have become. some of the same republicans who warned three years ago that this law would be armageddon -- they said "armageddon." stepsey are threatening that
the problem is the debt ceiling would prevent the government from issuing any more debt to finance this deficit. this means that the government would have to cut more spending or raise more taxes to bring the budget back into balance again. that could lead to a downward deflationary spiral with no bottom in spite. at deflationary environment like offer would be u.s. treasury funds. the u.s. long-term interest ,ates spiked slightly lower just the opposite of what everyone thought was going to...
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Sep 13, 2013
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it is not many can cut spending 40%, which is what you have to cut probably to get the debt ceiling, but it does mean there is plenty of money -- plenty of room to save money. i am worried about defense. sequester is fine, you get domestic saving, spending, i am for that, but you are giving up a lot of defense cuts. and we are now stretched very thin. if we don't intervene anywhere, if you think the world is going to be peaceful, though chemical weapons are within reach of al qaeda and we are not going to do anything, if that is your view, that is fine, we just bomb a few people and that is not expensive. but if you think we need to have forward deployed navy bases and soldiers, marines ready to go ashore if need be, if you think there are threats around the world, and if you think it is good for us and for the world to be able to keep these threats from getting -- to deter these threats before they get severe, we need to have a pretty substantial defense establishment. these cuts are serious there. i'm told the navy is really straining to even do with the president ordered it to do
it is not many can cut spending 40%, which is what you have to cut probably to get the debt ceiling, but it does mean there is plenty of money -- plenty of room to save money. i am worried about defense. sequester is fine, you get domestic saving, spending, i am for that, but you are giving up a lot of defense cuts. and we are now stretched very thin. if we don't intervene anywhere, if you think the world is going to be peaceful, though chemical weapons are within reach of al qaeda and we are...
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Feb 9, 2013
02/13
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they were worried about raising the national debt ceiling, which is $16.4 trillion. republicans hoped to try to force a general deduction of overall spending. it came down to this deal where it was they would do a supercommittee that would come up with a deal by the end of 2011. they did not. if they did not reach a deal by the end of 2012, they would have mandatory budget cuts of $1.2 trillion over 10 years. the first were supposed to kick in this year. now that they have extended that, we are looking at about $90 million of mandatory cuts split between regular government spending and defense spending. they are supposed to kick in march 1. host: what is the seacrest -- what does the sequestration mean for the defense department? caller: you are looking at about $15 billion of cuts. unlike other cuts that could happen to government agencies, they go across the board. you are looking at taking major chunk of operations out of programs. we are fighting a major war in afghanistan. that is separated. you are looking at the cuts taking effect in areas that are having a di
they were worried about raising the national debt ceiling, which is $16.4 trillion. republicans hoped to try to force a general deduction of overall spending. it came down to this deal where it was they would do a supercommittee that would come up with a deal by the end of 2011. they did not. if they did not reach a deal by the end of 2012, they would have mandatory budget cuts of $1.2 trillion over 10 years. the first were supposed to kick in this year. now that they have extended that, we are...
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Feb 20, 2013
02/13
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another thing that is talked about is this is not the same as the fiscal cliff for the debt ceiling where the next day everybody's taxes are going to go up. these budget cuts would happen over time, and a lot of the furloughs would not happen for a month or two months. the next, big budget deadline is march 27, when the continuing resolution will expire, and meeting the will shut down if there is not a budget deal reached by march 27. there is talk of a sequestration deal being rolled into that so that march 27 might be the next deadline to look at. host: poco -- "the new york times" has this story -- "dire forecast on effective budget cuts." here is bloomberg businessweek looking at a reboot for the simpson-bowles plan. are we hearing anything new from them and what has the reaction been? guest: what is interesting is we have not had a ton of reaction from both sides. here is generally what their plan looks like -- 2.4 trillion dollars over the course of 10 years. that is scaled back. their other big deficit commission was around $4 trillion. one quarter of that would come from medicare
another thing that is talked about is this is not the same as the fiscal cliff for the debt ceiling where the next day everybody's taxes are going to go up. these budget cuts would happen over time, and a lot of the furloughs would not happen for a month or two months. the next, big budget deadline is march 27, when the continuing resolution will expire, and meeting the will shut down if there is not a budget deal reached by march 27. there is talk of a sequestration deal being rolled into that...
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Oct 19, 2013
10/13
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ceiling in 2011, 2012, 20 or 10, whatever crisis in 2014, bob by that point it is probably too late and you have to do real serious drastic cuts at that point in time to get back in budget and balance. i'm not sure you want to wait that long. i know we don't. politicians have what it takes to stand up today and change the structure. of the most of rising things to me during this most recent crisis is how calm markets were. markets were a lot happier than i was when it was going on, i will say. theynk that is because basically said we have seen this movie before, the congress already pulled the rabbit out of the have the last minute. we don't really have anything to worry about. if we approach again, maybe they will. who knows? who knows how markets work? end, it is probably finally markets that will discipline the system and force politicians to do something more sensible. guest: that is the point because one of the buzzwords was at the market new the congress idea before the congress knew it had a deal. we all knew they would do some the for october 17 because nobody even wanted to
ceiling in 2011, 2012, 20 or 10, whatever crisis in 2014, bob by that point it is probably too late and you have to do real serious drastic cuts at that point in time to get back in budget and balance. i'm not sure you want to wait that long. i know we don't. politicians have what it takes to stand up today and change the structure. of the most of rising things to me during this most recent crisis is how calm markets were. markets were a lot happier than i was when it was going on, i will say....
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Oct 3, 2013
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debt ceiling increases have been paired with spending cuts in the past. why can't you just come to the table? in terms of whether they exacerbate the issues, the feelings in washington right now are very poisoned on both sides. clearly, that does not help the situation it does not help where we currently are. host: david from fall river, massachusetts. i see the argument going back and forth. let's go back to an old saying. what's good for the goose is good for the gander. if obamacare is not good enough for congress, it should not be good enough for us. we vote these people into office to look out for our interests. what i see here is a war within our own government. let's get these people together, do their job. we voted you in -- your job. we voted you in. you might not be in next time. let's keep our national parks open. this is for the people. our government has to come together. it's we the people, not as the government. guest: he makes an interesting point. we were talking about catalysts, what's going to bring folks to the table. the government sh
debt ceiling increases have been paired with spending cuts in the past. why can't you just come to the table? in terms of whether they exacerbate the issues, the feelings in washington right now are very poisoned on both sides. clearly, that does not help the situation it does not help where we currently are. host: david from fall river, massachusetts. i see the argument going back and forth. let's go back to an old saying. what's good for the goose is good for the gander. if obamacare is not...
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Sep 11, 2013
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we have the debt ceiling vote coming up. we have the continuing resolution on the budget. attempt we have another at the grand bargain. sequestration hits again. on march 10, additional cuts will go into place. -- that ise domestic a huge domestic issue. and some in -- something that should not be forgotten, a huge domestic issue, is what progress is going to happen with regards to the immigration reform. those two domestic issues continued to be a priority. and this break him of this pause, perhaps, will allow -- this break, this pause, will allow congress to refocus on those issues on top of us. host: on those domestic issues, "the washington times" right to this this morning. guest: i really don't believe that. i don't believe that the rejection that would have occurred by the house of representatives of the syrian resolution to unilaterally bomb and have that attack would destroy the ability to move forward. contention at the house of representatives is with immigration and the budget -- the point of contention is with the republican leadership in the house on both of
we have the debt ceiling vote coming up. we have the continuing resolution on the budget. attempt we have another at the grand bargain. sequestration hits again. on march 10, additional cuts will go into place. -- that ise domestic a huge domestic issue. and some in -- something that should not be forgotten, a huge domestic issue, is what progress is going to happen with regards to the immigration reform. those two domestic issues continued to be a priority. and this break him of this pause,...
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Sep 22, 2013
09/13
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ceiling if they cannot shut off the affordable care act, also known as obamacare. think about this -- they are not talking now about spending cuts or entitlement reforms. now they are talking about something that has nothing to do with the budget, right? they are actually willing to plunge america into default if we cannot defund the affordable care act. let's put this in perspective -- the affordable care act has been in the law for 3.5 years after it passed both houses of congress and the supreme court ruled a constitutional and it was an issue in laster's election. the guide was running against me said he would repeal it and we won. president last friday at a ford motor plant as he traveled and talked about jobs, the economy, and healthcare. i want to share with you what kathleen harker who is a supporter of the president talked about dealing obamacare -- what to you say to a supporter that says to delay this? guest: i categorically reject that suggestion. we have a healthcare system that changes need to occur. and i saw itttempt all play out, to do the best job
ceiling if they cannot shut off the affordable care act, also known as obamacare. think about this -- they are not talking now about spending cuts or entitlement reforms. now they are talking about something that has nothing to do with the budget, right? they are actually willing to plunge america into default if we cannot defund the affordable care act. let's put this in perspective -- the affordable care act has been in the law for 3.5 years after it passed both houses of congress and the...
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Oct 20, 2013
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they say the debt ceiling is suspended. does that mean there is no debt ceiling? does that mean they can spend have whatever they want? how high can they go? have a already exceeded the previous debt limit with their spending? it,an, if they suspended then there is not, right? guest: that would be our interpretation as well. i don't think there is momentum to greatly inflate that number, but you are right -- that is how we would have interpreted the legislation as well. next, plainview, new york, recalled to my. caller: -- republican line. caller: good morning. at one point does it limited ted debt,unlimi expanding the debt, become a danger to our economy? or less.owing at 2% the real unemployment rate is not 7% because the ratio changes when people drop out of the workforce or perhaps it is what i have heard at estimates, 12% to 15%. given those figures, how can we afford unlimited debt? becoming a debtor nation that cannot pay back these debts, particularly when interest rates rise, how is that going to affect our country? also, could you explain what monetizing
they say the debt ceiling is suspended. does that mean there is no debt ceiling? does that mean they can spend have whatever they want? how high can they go? have a already exceeded the previous debt limit with their spending? it,an, if they suspended then there is not, right? guest: that would be our interpretation as well. i don't think there is momentum to greatly inflate that number, but you are right -- that is how we would have interpreted the legislation as well. next, plainview, new...
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Oct 14, 2013
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he is taking your questions as morning on the debt ceiling. charles is good morning. caller: thank you. i would like you to comment on how much the quantitative easing has affected our debt and how much revenue we lost during those eight years of tax cuts, how that affects the debt. thank you so much. guest: when you cut taxes dramatically, you'll increase the debt. there is a theory that, "do't worry, there'll be more revenues." but has been discredited that is a theory some people hold. the fed has quadrupled the size of its balance sheet. they are buying $85 billion every single month of american treasuries and mortgage-backed securities. a lot of people concerned about, "you have that kind of balance sheet. that is a huge." will it cause inflation? it hasn't had much impact on our debt. nnet. next up is a caller: good morning. -- annette. caller: we are $17 trillion in debt. that is a scary number. we keep saying we want to raise the debt ceiling. is there really a ceiling? if we don't try to control spending, is this going to be the only answer every year, to fig
he is taking your questions as morning on the debt ceiling. charles is good morning. caller: thank you. i would like you to comment on how much the quantitative easing has affected our debt and how much revenue we lost during those eight years of tax cuts, how that affects the debt. thank you so much. guest: when you cut taxes dramatically, you'll increase the debt. there is a theory that, "do't worry, there'll be more revenues." but has been discredited that is a theory some people...
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Oct 9, 2013
10/13
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ceiling taking care of that, for some specified. over a matter of weeks, the real leverage in that negotiation are the sequester cuts, which we will continue to operate at a pretty low level, both sides want to get rid of it in different ways, if you can get them to the table in that kind of format with a serious discussion going on, which both sides really believed was productive as opposed to just dueling press conferences, you could start moving. is it thatikely whatever deal him urges will have sequester relief? very likely, the elements are there to do that. the president put something in the budget that they can vote for. there are top things, the president recommended chains cpi, which over time would save hundreds of billions of dollars. means testing for medicare, obviously if you are very wealthy, you would pay more out- of-pocket in premium and co-pay, which is a reasonable thing to do. i think that serious savings in medicare could be applied, it creates a pool of savings on the nondiscretionary side of the budget that y
ceiling taking care of that, for some specified. over a matter of weeks, the real leverage in that negotiation are the sequester cuts, which we will continue to operate at a pretty low level, both sides want to get rid of it in different ways, if you can get them to the table in that kind of format with a serious discussion going on, which both sides really believed was productive as opposed to just dueling press conferences, you could start moving. is it thatikely whatever deal him urges will...
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Jan 23, 2013
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ceiling on the across-the-board spending cuts known as the sequester, coming up. also, at the end of march, we have the continuing resolution, because the senate has not passed a full budget and the two chamber is not agree to a budget, but they have been working off a continuing resolution which funds the government for certain amount of time. it will end on march 27. house leaders tried to put forward or sketched out a game plan for how they would handle things going forward. the first step in all this is the vote today on a short-term debt limit extension. host: seth, you mentioned the republican retreat last week and on conversations with conservatives, an event on capitol hill yesterday. what kind of dissent did you hear from conservative republicans on the debt ceiling vote? guest: they want to make sure that they get some sort of deficit reduction out of this. i think it makes them a little nervous. this is what many will referred to as a clean vote on the debt ceiling, if they're not a lot of strings attached. they would like to see more deficit reduction.
ceiling on the across-the-board spending cuts known as the sequester, coming up. also, at the end of march, we have the continuing resolution, because the senate has not passed a full budget and the two chamber is not agree to a budget, but they have been working off a continuing resolution which funds the government for certain amount of time. it will end on march 27. house leaders tried to put forward or sketched out a game plan for how they would handle things going forward. the first step...
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Jan 19, 2013
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but they also said that they want a clean debt ceiling. not every three months you're going to have the same thing over again. they want it for a whole year. not this three-month extension. host: jeff this morning off twitter said this is a reasonable offer if the democrats do not accept it he adds nice play, g.o.p. host: republican line? caller: yes, there are two features on this proposed legislative action. they have different levels of support for me. i do support the concept of withholding pay for not having a budget. i mean, not only should the federal government have a law regarding that but i think each individual state should enact a legislative negligence act that if you don't fulfill that responsibility of having a budget, you do not get paid and you get barred from running for future elective office. with regard to the debt ceiling, here we go again. the republican party, if it goes along with this deal in my opinion ought to change its name to the caveman party and boehner and mcconnell would be the cavemen in chief, because e
but they also said that they want a clean debt ceiling. not every three months you're going to have the same thing over again. they want it for a whole year. not this three-month extension. host: jeff this morning off twitter said this is a reasonable offer if the democrats do not accept it he adds nice play, g.o.p. host: republican line? caller: yes, there are two features on this proposed legislative action. they have different levels of support for me. i do support the concept of withholding...
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Sep 23, 2013
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a few more questions on how raising the debt ceiling works. robert january asks -- not raising it does not mean automatic the fault, not money is coming in to pay interest on debt, he says we should cut spending. can you talk about how that works? >> that is not the truth at all, if you do not raise the debt ceiling you will have enough money to pay interest, because interest payments happened to be very sporadic. money comes in and gets paid in larger and smaller chunks and the timing is not guaranteed at all, so it is incredibly risky because you do not know at which moment you would not be able to pay the interest on the debt. we would have default if we did not raise the debt ceiling. there is talk of prioritizing the money towards some things over other things, but those interest payments jump up and down, they cannot be smoothed at our own discretion. very risky territory. i do not think we should be talking about this at all. it is not the way to use which we do need to do, like dealing with our tax code. talking about default thing if
a few more questions on how raising the debt ceiling works. robert january asks -- not raising it does not mean automatic the fault, not money is coming in to pay interest on debt, he says we should cut spending. can you talk about how that works? >> that is not the truth at all, if you do not raise the debt ceiling you will have enough money to pay interest, because interest payments happened to be very sporadic. money comes in and gets paid in larger and smaller chunks and the timing is...
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Jul 28, 2013
07/13
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ceiling needs to be raised again. so all those things are happening at one time. what some would like to see is a grand bargain that includes raising taxes, cutting some entitlements, and spending cuts, but not to the level that was agreed to in the last fiscal cliff. in a 2011. at that time, congress agreed to two things. spending for the next 10 years, and two, we will have a sequester, which is about $100 million of cuts split between defense and domestic spending. so what you're going to see in september is a real fight over that. democrats have already in the budget they presented said we don't respect those caps because we are going to have a grand bargain in september. republicans said we already have a grand bargain, and those are going to run on. that will be enough to make it difficult. then the libertarian wing of the republican party all have items. one, and the senate, we will not pass the spending bills unless obamacare is defined it and or defund it. -- defunded. you will see a 20-week abortion limit. i
ceiling needs to be raised again. so all those things are happening at one time. what some would like to see is a grand bargain that includes raising taxes, cutting some entitlements, and spending cuts, but not to the level that was agreed to in the last fiscal cliff. in a 2011. at that time, congress agreed to two things. spending for the next 10 years, and two, we will have a sequester, which is about $100 million of cuts split between defense and domestic spending. so what you're going to...
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Sep 9, 2013
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guest: the thing that the house republicans are demanding are cuts and equal to the amount of the debt ceiling would be raised and in addition, budget reforms and other issues that they believe should be tied to the debt ceiling increase. the difference between right now and when the republican demanded this in 2011, there was a time in 2011 the white house said that we may be willing to negotiate. of course, that led to brinksmanship, 11th hour brinks man ship. looked like the country was oing to default. the white house is saying we're not going negotiate at all and we just need to raise the debt ceiling. the white house doesn't know. host: susan, do you agree with that? guest: right. it's a battle of whether or not the president really sticks to what he which is no negotiating. that's a tough line to draw. there will probably some negotiating. you already have some democrats who don't want the sequester already in place. so one wonders how they're going to -- i'm wondering how they're going to move it this time, and get that debt ceiling raised by mid october. i suspect it will push
guest: the thing that the house republicans are demanding are cuts and equal to the amount of the debt ceiling would be raised and in addition, budget reforms and other issues that they believe should be tied to the debt ceiling increase. the difference between right now and when the republican demanded this in 2011, there was a time in 2011 the white house said that we may be willing to negotiate. of course, that led to brinksmanship, 11th hour brinks man ship. looked like the country was oing...